NICE Unveils New Fraud Prevention Software

NICE has unveiled ENLIGHTEN Fraud Prevention, an innovative new solution for automatic and continuous fraudster detection and exposure.

Bringing together NICE ENLIGHTEN’s comprehensive Customer Engagement AI platform with the company’s voice biometrics capabilities, the solution continuously scans millions of calls to accurately pinpoint suspicious behaviour and uncover previously unidentified fraudsters.

Adopting a proactive approach, NICE ENLIGHTEN Fraud Prevention significantly reduces fraud losses and handling time while protecting consumers and improving their experience.

“Contact centre fraud is growing in frequency, breadth and sophistication,” observes Dan Miller, Lead Analyst at Opus Research.

“NICE ENLIGHTEN Fraud Prevention stands out as an integrated, pre-emptive AI-based Fraud Prevention solution that actively prevents malicious activities with minimum additional effort from customers.” 

Unlike most technologies that focus on a single call, NICE ENLIGHTEN Fraud Prevention includes powerful AI interpretive and predictive models that scan millions of voice interactions over time to detect abnormal, risky behaviour, including requests to change addresses or authentication methods without relying on agents to manually capture dispositions.

NICE’s Proactive Fraudster Exposure voice biometrics capability included within the solution is then used to expose perpetrators and create a ranked and prioritized list of suspected fraudsters.

Importantly, the solution is self-training, constantly learning from identified behaviours, continuously updating its AI models and thus consistently improving results.

With this novel solution, organizations can protect customers from account takeover and prevent exposure of personally identifiable information, reduce fraud losses, optimize fraud analyst team efficiency and safeguard brand loyalty.

Barry Cooper

“We are proud to bring yet another market-first offering with NICE ENLIGHTEN Fraud Prevention,” Barry Cooper, President, NICE Enterprise Group, said.

“NICE ENLIGHTEN is NICE’s AI platform with models specific to the Customer Engagement domain. A number of solutions across our portfolio are being infused with AI from NICE ENLIGHTEN including our Proactive Fraudster Exposure solution.”

“NICE ENLIGHTEN Fraud Prevention ensures that fraudsters are rapidly and proactively stopped in their tracks so organizations can protect their customers and their brand.”

“We believe that by bringing AI to Fraud Prevention we provide organizations with the agility that makes it even more difficult for the fraudsters to win.”

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About NICE

NICE is a leading global enterprise software provider that enables organizations to improve customer experience and business results, ensure compliance and fight financial crime. Their mission is to help customers build and strengthen their reputation by uncovering customer insight, predicting human intent and taking the right action to improve their business.

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Author: NICE